Niam has acquired a portfolio of 782 turn-key residential units located in five growth cities on Jutland, Denmark. The portfolio comprises of 10 properties with 646 terraced houses and 136 apartments which are all being built by the well-known Danish developer Birch Ejendomme that previously delivered approximately 1,200 units of high quality to Niam, providing reassurance to the condition of the final turn-key projects. Once finalized, all properties will obtain a DGNB environmental certification.
The residentials are located in five regional growth cities on Jutland, respectively in Aarhus, Silkeborg, Kolding, Randers and Fredericia. Together they amount to approximately 70,000 sqm, making the average size of the units 88 sqm.
“We are happy to continue our relationship with Birch Ejendomme who continuously delivers high-quality homes that meet the market needs. The acquisition of these assets supports our ambition to build a residential portfolio in Denmark with a focus on high quality buildings, let at sustainable rent levels. Additionally, it is an important factor for Niam as a social developer that the residentials are environmentally sustainable which will be confirmed with the DGNB certification,” says Michael Berthelsen, Country Manager Denmark at Niam.
”At Birch Ejendomme, we are extremely pleased to be able to expand our close relationship and professional collaboration with Niam with this transaction and that such a reputable Nordic investor has a continued desire to trade properties with us. This transaction is a result of the fantastic journey that we at Birch Ejendomme are on and it supports our ambition to deliver leased sustainable quality buildings to the housing market in Danish growth cities, which has characterized our dealings with Niam in recent years. We are much look forward to delivering a total of 10 properties over the next two years,” says Thomas Bertelsen, Partner in Birch Ejendomme.
The units will be delivered successively beginning with the first close expected in September 2021 and the final closing expected October 2023.